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Your investment real estate’s outcome depends entirely on whether you file for Chapter7 or Chapter 13 bankruptcy. Investment Real Estate in Chapter7Bankruptcy. Chapter7bankruptcy is a great option for those looking to discharge eligible debts. Chapter 13 Cramdowns.
Chapter7 (Liquidation). Chapter7bankruptcy petitioners get a discharge from the bankruptcy court within three to four months. Creditors are prohibited from contacting you after your petition is filed. Advantages of Chapter7Bankruptcy. Disadvantages of Chapter7Bankruptcy.
You can work directly with the mortgage lender on a loan modification, or reach out to the Colorado Foreclosure Hotline for free assistance. While credit cards and other unsecured loans are almost always the most aggressive when it comes to collecting debts, they should generally be your lowest priority. Credit Cards. Student Loans.
Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. Bankruptcy law was created to give debtors a true fresh start and pathway to rebuilding wealth.
In most chapter 11 cases, the debtor files a series of “first day” motions with the bankruptcy court seeking relief that it may not otherwise be automatically entitled to receive under the Bankruptcy Code. Such relief may include a request to pay some unsecuredcreditors (such as employees or “critical vendors”) ahead of others.
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